Webcast
Basic
CPE Credits
6 Credits: Accounting
Course Description
Revenue is probably the most important number in financial statements. After years of effort, a joint Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) standard has been issued. It rebuilds revenue accounting from the ground up. This course provides a comprehensive analysis of this guidance and its impact on your company and/or clients.
The recently issued lease accounting standard represents a radical departure from previous lease guidance. Many financial statements will recognize potentially significant assets and liabilities for the first time. The impact will be uneven depending on the business and the reaction of their creditors. This course aims to guide participants in understanding how the new standard will affect their company or clients and identifying the practical implementation strategies that might ease the burden of transition.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Determine the disadvantages of lease accounting
- Identify the asset-liability approach to leases and its effect on the balance sheet
- Identify the effect of lease changes on covenants and likely lender reaction
- Apply the right-of-use approach model for lessees and lessors
- Identify renewal, termination, and other lease-specific issues
- Determine implementation and transition considerations
- Discuss the asset-based approach to revenue recognition
- Analyze contacts and performance obligations
- Identify the satisfaction of performance obligations
- Practice more complex transactions using an examples-based approach
- Analyze continuous delivery and percent of completion
- Identify multiple deliverables and contract separation
- Determine contract costs and onerous obligations
- Apply a different approach to disclosures
Course Specifics
|
Course ID WC11186458 |
Revision Date February 28, 2020 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Dr. Ray Thompson, CBA, CFM, CMA, is an emeritus associate professor of accounting and finance at the University of Pittsburgh. He served as department head at the University of Pittsburgh at Johnstown (UPJ) campus for over 25 years. He was the associate director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups. He has taught in graduate and undergraduate business programs in Europe, Africa, and the United States. Ray received his BS and MS degrees in economics and systems dynamics from the University of Bradford in …
Key Guide To Revenue Recognition And Lease Accounting
CPE CREDITS
6 Credits: Accounting
$294.00
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
Webcast
Basic
CPE Credits
6 Credits: Accounting
Course Description
Revenue is probably the most important number in financial statements. After years of effort, a joint Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) standard has been issued. It rebuilds revenue accounting from the ground up. This course provides a comprehensive analysis of this guidance and its impact on your company and/or clients.
The recently issued lease accounting standard represents a radical departure from previous lease guidance. Many financial statements will recognize potentially significant assets and liabilities for the first time. The impact will be uneven depending on the business and the reaction of their creditors. This course aims to guide participants in understanding how the new standard will affect their company or clients and identifying the practical implementation strategies that might ease the burden of transition.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Determine the disadvantages of lease accounting
- Identify the asset-liability approach to leases and its effect on the balance sheet
- Identify the effect of lease changes on covenants and likely lender reaction
- Apply the right-of-use approach model for lessees and lessors
- Identify renewal, termination, and other lease-specific issues
- Determine implementation and transition considerations
- Discuss the asset-based approach to revenue recognition
- Analyze contacts and performance obligations
- Identify the satisfaction of performance obligations
- Practice more complex transactions using an examples-based approach
- Analyze continuous delivery and percent of completion
- Identify multiple deliverables and contract separation
- Determine contract costs and onerous obligations
- Apply a different approach to disclosures
Course Specifics
|
Course ID WC11186458 |
Revision Date February 28, 2020 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Dr. Ray Thompson, CBA, CFM, CMA, is an emeritus associate professor of accounting and finance at the University of Pittsburgh. He served as department head at the University of Pittsburgh at Johnstown (UPJ) campus for over 25 years. He was the associate director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups. He has taught in graduate and undergraduate business programs in Europe, Africa, and the United States. Ray received his BS and MS degrees in economics and systems dynamics from the University of Bradford in …
Key Guide To Revenue Recognition And Lease Accounting
CPE CREDITS
6 Credits: Accounting
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
$294.00